1968 Ford Mustang Shelby G.T. 500 - Northern Might

Ultra-Rare Shelby Rides Above the Border

Back in the summer of 1988, Mike Winchester, an electrician from Calgary, Alberta, Canada, set off to attend an annual classic car cruise in the nearby community of Three Hills. Mike is a longtime Maple Leafs–lovin' muscle car fanatic, having collected and raced several hot vintage rides over the years. And interestingly enough, you can say he was and still is a man without brand prejudice, having bought, driven, and sold numerous hot cars from each of the Big Three automakers. 'Cudas, Camaros, Mustangs, Chevelles, and Challengers have all spent time in Mike's garages, making him a man who can see past the typical brand blindness that so many of us have witnessed (or been a part of) in the collector hobby.

Just before his jaunt to Three Hills, Mike got word that a certain local 1968 Ford Mustang Shelby G.T. 500 KR was for sale and was probably going to make its rounds at the get-together. It was a car Mike was well aware of, having drooled over the possibility of owning the rare Ford for several years and had even lost sleep over it. When he saw the yellow Shelby make its entrance at the show, he about jumped right out of his pants to get a head start cutting it off at the pass.

Once the pony car parked, Mike ran up to greet the owner, ready to make his best pitch for the Shelby's pink slip. Imagine his surprise when a good friend and car guru, Reg Nelson, stepped out of the driver's seat. "What do you think? I just picked it up," Reg said with a grin on his face. Needless to say, Mike's heart sank. He had lost out on the car. Mike reeled for a second, then offered Reg twice what he had paid. "Nope," Reg shot back. "I'm going to restore it."
And restore it he did, nut by nut, bolt by bolt, something pretty unheard of back in those days.

2/6 Even though the ’68 model year has the highest number of Shelby Mustangs, those 4,451 G.T. 350s, 500s, and 500 KRs were a drop in the bucket compared to the 300,000 or so ’68 Mustangs. A quarter of the Shelbys (1,053) were KR fastbacks like Mike Winchester’s. But just 86 of those were painted with the special yellow paint (code WT6066). So among rare muscle cars, Mike’s is rarer still.

The next time Mike, Reg, and the Shelby crossed paths was at the 1991 World of Wheels show. This was the first time Mike laid eyes on the beautiful restoration that Reg had completed. The car surpassed any of the other typical restorations owners did to their muscle cars back in the '80s. At the WoW event, Reg's Shelby took the trifecta of show awards, winning Best in Class, Best Restored, and finally Best in Show. The Shelby beat Mike's beautiful '69 Yenko Camaro in each of the three categories, rubbing more salt into Mike's still-open wounds.

Years passed, and unknown to Mike, Reg sold the car to the Canadian Paraplegic Society in 1997 for the organization to use as a fund-raising raffle car. For a year the car sat on display at the West Edmonton Mall, prompting people to give a few dollars for a chance to own the rare car and donate money to a good cause while they were at it. The KR was won by a lucky single parent who immediately sold it, knowing darn well it could bring a good price. After that the car changed hands several times, passing through several owners and collections.
In 2000, Mike once again got the itch to find the rare yellow Shelby. He tracked the car down to Saskatoon, Saskatchewan, a few hundred miles to the east. As luck would have it, the owner was interested in letting the car go. Mike knew that if he was ever going to own the car, he had to strike a deal now. After a short negotiation, the Shelby was loaded on Mike's trailer. Finally, the ever-elusive Shelby was in Mike's hands.

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3/6 Mike’s Shelby was first sold in August 1968 at Metro Ford in Calgary. Twenty years later—to the date—Reg Nelson bought the KR and began its extensive restoration.

Beginnings

This G.T. 500 KR fastback was sold new out of Metro Ford in Calgary on August 24, 1968. Exactly 20 years later—to the date—Reg Nelson purchased the car from the fourth owner for $7,500 Canadian, a pretty decent deal even back then. Yet the elusive pony car almost eluded his capture as well. Reg heard that the rare Ford was for sale in a small town called Red Deer, so he loaded his truck and went to take a look. Under a coat of dirt and dust was the bone-stock Shelby, which had been dormant for quite some time.

Unfortunately, there was a problem. Someone had beaten him to it. A trucker had stopped by and dropped a hefty deposit on the car. Well, this time luck was on Reg's side. The trucker blew the engine in his rig and had to take back his deposit to fix his only means of making a living.
So the rare G.T. 500 KR was soon on a hauler heading back to Reg's garage in Rumsey, a small farming town outside of Calgary. It was here where the Shelby was stripped to its birthday suit and ultimately restored to the beautiful condition you see here.
Reg handled 80 percent of the restoration himself, only farming out the bodywork and paint to Specialty Restorations in Dewinton, Alberta. Once the shop laid out the rare WT6066 special yellow paint on the Shelby, it made its way back to Reg's for a complete buildup. Reg handled all the mechanicals, from rebuilding the 428 Cobra Jet with its 427 heads, to refurbishing the rare automatic transmission, to taking down and rebuilding the 9-inch Traction-Lok rearend. He also contacted several past owners, who were happy to add many N.O.S. parts they had collected over the years while they had owned the car. This helped make the Shelby as near to original as you could get for a restored ride.

4/6 The KR was a midyear replacement for the G.T. 500, earning the moniker “King of the Road” thanks to the new 428 Cobra Jet V-8.

Reg completed the restoration in less than a year and at a quality level that was unsurpassed at the time, given the extensive use of N.O.S. parts and the fact that every inch of the car was taken apart, gone through, and meticulously reconstructed. It rides on the Shelby 10-spoke aluminum wheels that were on the car when Reg bought it. The car had some pretty nifty options on its build sheet too. The black interior is well accented with some key features, such the tilt-away wheel, 8,000-rpm tach, and factory radio. The car still has its original black carpeting, which was in good shape when the car was found.

And of course there is the paint. The WT6066 paint code, which Shelby factory records calls "yellow," was applied to just 86 of the 1,000 or so '68 KR fastbacks built, making this a truly rare and beautiful Shelby.
Current owner Mike keeps the Shelby in a beautiful custom garage that you have to see to believe, at his home on the outskirts of Calgary. Though the restoration is now 23 years old, it still looks like it was completed yesterday. Mike meticulously handles its preservation for future generations. It's a powerful statement of a man's hard work and dedication to keep a glowing example of American craftsmanship alive and well.

5/6 These 10-spoke aluminum wheels were an option on the Shelbys. Standard equipment was a steel wheel with a mag-style, five-spoke hubcap. Reg got a set of N.O.S. hubcaps from one of the car’s previous owners. Mike still has them.

Unfortunately this story takes a sad twist. Last fall Reg passed away due to brain cancer. Before his death, Mike told him that MCR was going to feature the car in an upcoming issue, which brought a smile to the car's restorer face. Hopefully Reg is looking down on us, glowing with pride. MCR

At a Glance
1968 Shelby G.T. 500 KR
Owned by: Mike Winchester, Calgary, Alberta, Canada
Restored by: Reg Nelson
Engine: 428ci/335hp Cobra Jet V-8
Transmission: C6 automatic
Rearend: Ford 9-inch with 3.50 gears and Traction-Lok
Interior: Black vinyl bucket seat
Wheels: Shelby aluminum 10-spoke
Tires: F70-15 Goodyear Polyglas
Special parts: Rare WT6066 paint, tilt-away steering wheel, factory 3-point racing harness, factory rollbar, 140-mph speedo

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6/6 The Shelbys became more posh in the ’68 model year, with interior appointments that included woodgrain vinyl inserts and a swing-away steering column to hold the T-bird–like wheel.